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Pina Corporation, having recently issued a $ 20,006,100, 15-year bond issue, is committed to make annual sinking fund deposits of $ 619,000. The deposits are
Pina Corporation, having recently issued a $ 20,006,100, 15-year bond issue, is committed to make annual sinking fund deposits of $ 619,000. The deposits are made on the last day of each year and yield a return of 10%.
1.Determine the amount of deficiency.
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